DLF to invest ₹20,000 crore in commercial properties

DLF, a major real estate company in India, plans to invest about ₹20,000 crore to expand its commercial property business. This investment is expected to cover the development of office and retail spaces. On March 21, DLF provided details about its growth strategy in a presentation filed with stock exchanges. The company emphasized its commitment to significant capital expenditure to boost its rental business. DLF aims to increase its current commercial assets, which currently encompass 44 million square feet, to 73 million square feet in the coming years. Most of DLF's rental assets are held through a joint venture called DLF Cyber City Developers Ltd (DCCDL), in which DLF owns a 67% stake. DLF's rental operations are performing well, boasting an occupancy rate of 93%. Recently, DCCDL announced plans to invest approximately ₹6,000 crore to develop new office and retail spaces in Gurugram. This includes the construction of 5.5 million square feet of ultra-premium office space and the DLF Mall of India, encompassing 20 lakh square feet. DLF is known for both developing and selling residential properties and leasing commercial properties. Since its inception, it has completed over 185 projects, totaling more than 352 million square feet. The company also has a significant development potential of 220 million square feet across different segments.